Private sector bank, YES Bank has said that its shareholders have approved the re-appointment of Rana Kapoor as the bank’s MD and CEO for a period of three years, effective from September 1. Yes Bank said in its filing with the stock exchanges after the 14th annual general meeting. His new tenure now has to be approved by the Reserve Bank of India.
“The shareholders have approved through a special resolution to raise capital aggregating up to $1 billion by way of issue of shares,” the company said in a statement.
Rana Kapoor has been at the driving wheel of the private sector lender since 2004. During this time, the bank set records for both loan growth and the highest proportion of disputed bad debt among its top private-sector peers.
Other appointments include:
- Subhash Chander Kalia has been appointed as the non-executive non-independent director.
- Rentala Chandrashekhar has been appointed as independent director for a period of five years.
- Pratima Sheorey has been appointed as independent director for a period of five years.
- Ajai Kumar has been re-appointed as the non-executive non-independent director.
Shareholders approved raising up to Rs 30,000 crore through the issue of debt securities and up to $1 billion through the issue of shares or convertible securities, the filing said. The lender also received a nod to raise the total borrowing limit to Rs 1,10,000 crore from Rs 70,000 crore earlier.
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